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Trinity Watthana Public Company Limited (TNITY) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Trinity Watthana Public Company Limited stock THB 2.35, price THB 2.18, upside +7.8%, quality 52 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Financial Services TH · ISIN TH0695010007

TW Trinity Watthana Public Company Limited logo Thin data Nov 10, 2026

Trinity Watthana Public Company Limited

TNITY · BK
Fairly valued, in an uptrend

The stock costs about what our calculation considers fair.

Low debt
Generates free cash flow
Revenue last quarter +59% vs. a year ago.
Fair value 2.35 THB · Fairly valued
Quality 52/100
Mixed vs. peers (6/13)
Weak Growth (revenue 5y −4.2 %/yr in THB)
Loss-making · -13.9% net margin (TTM)
Narrow moat 16/100 · thin data
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

15.79 THB 2.00 THB Fair Value 2.35 THB Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 2.00 THB – 15.79 THB · fair‑value band 1.76 THB – 2.93 THB · the 2.18 THB price screens below the 2.35 THB fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Trinity Watthana Public Company Limited, together with its subsidiaries, engages in the securities business in Thailand. The company operates through two segments, Securities and Derivatives Business; and Financial Advisory Business and Investment Banking.

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It is involved in the brokerage, trading, borrowing and lending, and underwriting of securities. The company also provides investment advisory, private fund asset management, investment banking, fixed income, and financial advisory services, as well as operates as a derivatives agent.

In addition, it invests in listed and other companies; securitizations; and offers management services for special purpose vehicles. Trinity Watthana Public Company Limited was incorporated in 2001 and is headquartered in Bangkok, Thailand.

Stock analysis

Trinity Watthana Public Company Limited (TNITY) currently trades at 2.18 THB, while our estimate is 2.35 THB, so the stock looks roughly fairly valued today (gap 7.2%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 1.76 THB (bear) to 2.93 THB (bull), the price of 2.18 THB sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 52/100 (solid quality), in the Financial Services sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Trinity Watthana Public Company Limited reported revenue of 492M THB in FY2025 versus 865M THB in FY2021, a compound −13.2%/yr. Reported net income was −79.4M THB in FY2025.

Key figures

Market cap 467M THB (≈ $13.9M) Micro · P/S ratio 1.09 · EPS (TTM) −0.3000 THB · Net margin −13.9% · Return on equity −4.8% · Return on assets (EBIT) 1.6% (5-year average) · Operating margin 0.8% · Revenue (TTM) 455M THB.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 16 out of 100 (low confidence).

What moves the price

The share trades about 29% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 8%, TNITY screens cheaper than that median.

Fair Value

Bear 1.76 THB Fair Value 2.35 THB Bull 2.93 THB
Price 2.18 THB · Upside +7.8%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 52/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 6
How much profit the company makes from its sales and capital
Quality Growth 39
Are margins and returns getting better?
Cashflow 100
Do the profits arrive as real cash?
Financial strength 12
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 72
How calm the share price moves, does not count
Price momentum 24
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 23
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−2.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.2%
Start year 2020 (pandemic). Over 10 years: −3.8% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
34.5% (2020) → 4.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Compare Trinity Watthana Public Company Limited with another stock

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 455 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside +7.8% · Above median
Profitability
Return on assets −2.0% · Bottom 25%
Net margin (12 months) −13.9% · Bottom 25%
Operating margin (12 months) 0.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 58.5% · Top 25%
Balance sheet
Debt / equity 0.25× · Above median

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/B 0.36× · Cheapest 25%
P/S (12 months) 1.03× · Cheapest 25%
Price / free cash flow (fiscal year) 1.9× · Cheapest 25%
EV/EBITDA 11.4× · Pricier than median
PEG 0.27× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)44 · sector 32
FUTURE (revenue growth)100 · sector 58
PAST (return on equity)0 · sector 31
HEALTH (low debt)88 · sector 94
DIVIDEND (yield)0 · sector 46

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Morgan Stanley MS $187.56 $260.72 +39% vs TNITY
The Charles Schwab Corporation SCHW $93.03 $117.60 +26% vs TNITY
Guotai Haitong Securities Co 601211 ¥16.21 ¥18.02 +11% vs TNITY
Nomura Holdings NMR $9.51 $10.17 +7% vs TNITY
The Goldman Sachs Group GS $910.19 $766.86 −16% vs TNITY
CITIC Securities Company 600030 ¥25.53 ¥20.42 −20% vs TNITY
Robinhood Markets, Inc HOOD $81.33 $47.60 −41% vs TNITY
Macquarie Group MQG A$249.23 A$123.84 −50% vs TNITY
East Money Information Co 300059 ¥18.78 ¥6.72 −64% vs TNITY
Interactive Brokers Group IBKR $77.59 $17.48 −77% vs TNITY

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Trinity Watthana Public Company Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Trinity Watthana Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/TNITY

Frequently asked questions

Is Trinity Watthana Public Company Limited (TNITY) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 2.35 THB versus a price of 2.18 THB, about +8% upside (fairly valued).
What is the fair value of TNITY?
Our estimate for Trinity Watthana Public Company Limited is 2.35 THB (as of Nov 10, 2026), built from audited fundamentals. The current price: 2.18 THB.
What is the quality score of TNITY?
Trinity Watthana Public Company Limited has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Trinity Watthana Public Company Limited (TNITY)?
Our calculated price target is the estimate of 2.35 THB (as of Nov 10, 2026). Cautious scenario 1.76 THB, optimistic scenario 2.93 THB. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Trinity Watthana Public Company Limited stock forecast for 2026?
Our estimate puts fair value at 2.35 THB, about +8% upside versus a price of 2.18 THB (fairly valued). Cautious scenario 1.76 THB, optimistic scenario 2.93 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Trinity Watthana Public Company Limited (TNITY)?
Trinity Watthana Public Company Limited reported trailing-twelve-month revenue of about 455M THB (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Trinity Watthana Public Company Limited (TNITY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Trinity Watthana Public Company Limited it is 2.35 THB per share (as of Nov 10, 2026), against a price of 2.18 THB.
Is Trinity Watthana Public Company Limited stock overvalued or undervalued in 2026?
As of Nov 10, 2026, TNITY trades below its calculated fair value: price 2.18 THB, fair value 2.35 THB, a gap of about +8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TNITY?
No. The price is what the market pays today (2.18 THB); the fair value is what the company's own numbers justify (2.35 THB). For Trinity Watthana Public Company Limited the two are 0.1700 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Trinity Watthana Public Company Limited worth?
The market values Trinity Watthana Public Company Limited at about 467M THB (market capitalisation, as of Nov 10, 2026). Per share that is 2.18 THB; our models calculate a fair value of 2.35 THB per share.
What do the bullish and bearish scenarios say about TNITY?
Our models span a range for Trinity Watthana Public Company Limited: cautious scenario 1.76 THB, base 2.35 THB, optimistic 2.93 THB per share (as of Nov 10, 2026, price 2.18 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of TNITY?
The PEG ratio of Trinity Watthana Public Company Limited is 0.27 (P/E divided by earnings growth, as of Nov 10, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Trinity Watthana Public Company Limited (TNITY)?
Balance-sheet figures for Trinity Watthana Public Company Limited (as of Nov 10, 2026): return on equity −4.8%, debt of 0.25 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is TNITY from its 52-week high?
Trinity Watthana Public Company Limited trades at 2.18 THB, about 29% below its 52-week high of 3.06 THB and 9% above the low of 2.00 THB (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 2.35 THB is for.
Which stocks are comparable to Trinity Watthana Public Company Limited?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Trinity Watthana Public Company Limited stock attractive at the current price?
The data as of Nov 10, 2026: price 2.18 THB, calculated fair value 2.35 THB (+8%), Quality Score 52/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Trinity Watthana Public Company Limited currently trades 7% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Trinity Watthana Public Company Limited (TNITY)?
The closing price on Nov 10, 2026 was 2.18 THB. Our estimate is 2.35 THB, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Trinity Watthana Public Company Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Trinity Watthana Public Company Limited

How large is the market capitalisation of Trinity Watthana Public Company Limited (TNITY)?
The market capitalisation of Trinity Watthana Public Company Limited is 467M THB (≈ $13.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Trinity Watthana Public Company Limited (TNITY)?
The price-to-sales ratio of Trinity Watthana Public Company Limited is 1.09 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Trinity Watthana Public Company Limited (TNITY)?
Earnings per share at Trinity Watthana Public Company Limited are −0.3000 THB. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Trinity Watthana Public Company Limited (TNITY)?
The net margin of Trinity Watthana Public Company Limited is −13.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Trinity Watthana Public Company Limited (TNITY)?
The return on equity (ROE) of Trinity Watthana Public Company Limited is −4.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Trinity Watthana Public Company Limited (TNITY)?
On an EBIT basis the return on assets of Trinity Watthana Public Company Limited is 1.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Trinity Watthana Public Company Limited (TNITY)?
The operating margin of Trinity Watthana Public Company Limited is 0.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Trinity Watthana Public Company Limited (TNITY)?
Revenue at Trinity Watthana Public Company Limited is growing +58.5% versus a year earlier (3y avg −11.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Trinity Watthana Public Company Limited (TNITY)?
Earnings per share at Trinity Watthana Public Company Limited are growing −50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Trinity Watthana Public Company Limited (TNITY) generate?
The free cash flow of Trinity Watthana Public Company Limited is 250M THB (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Trinity Watthana Public Company Limited (TNITY) carry?
The net debt of Trinity Watthana Public Company Limited is 2.4B THB (fiscal year 2025, ≈ 9.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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